Disallowance u/s. 14A while computing book profit u/s. 115JB is not tenable

Intas Biopharmaceuticals Ltd. Vs DCIT (ITAT Ahmedabad)

ITAT Ahmedabad held that addition on account of section 14A of the Income Tax Act while computing books profit under section 115JB of the Income Tax Act is not justifiable. Accordingly, addition u/s. 14A deleted and appeal of assessee allowed.

Facts- The assessee company is engaged in the business of manufacturing and marketing of Bio-Pharmaceutical Products. During scrutiny assessment, AO observed that as per the Circular No.5/2014 dated 11.02.2014, even where taxpayer in a particular year has not earn

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